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Georgian real estate construction industry obviously entering into crisis - Doppelmayr/Garaventa

Construction Materials 4 November 2020 18:15 (UTC +04:00)

BAKU, Azerbaijan, November 4

By Tamilla Mammadova – Trend:

Georgian real estate construction industry is obviously entering into the crisis, an international manufacturer of ropeways and people movers for ski areas, urban transport, amusement parks, and material handling systems Doppelmayr/Garaventa told Trend.

"Georgian infrastructure-related construction projects are underway as the government is trying to alleviate COVID 19 impact by investing heavily in infrastructural projects, thus creating jobs in rural areas of the country," Doppelmayr/Garaventa said.

Still, the government is trying to subsidize mortgage interest rates, so they become more attractive to potential buyers, said the company.

"Obviously there will be slowdown observed for at least 2 years since our projects at the moment are connected mostly to the tourism industry," the source noted.

Nevertheless, Doppelmayr/Garaventa looks at Georgian urban transport as a potential opportunity during this period.

"Recently Tbilisi municipality announced about their intentions to look at cable cars as an alternative to traditional public transport in several residential areas of Tbilisi," the company noted.

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